LionGold Corp Ltd on Friday said it has entered into a US$750,000 loan agreement with ASX-listed explorer Republic Gold Limited.
The agreement provides exclusivity for further due diligence and negotiation that would potentially lead to the completion of a share sale agreement for Vista Gold Corp, a wholly-owned subsidiary of Republic Gold Limited.
An interest rate of 8.5 per cent per annum will accrue on the principle debt if the share sale agreement for Vista Companies is not signed within 30 days and if completion of shares sales is not complete by August 16.
The agreement provides exclusivity for further due diligence and negotiation that would potentially lead to the completion of a share sale agreement for Vista Gold Corp, a wholly-owned subsidiary of Republic Gold Limited.
An interest rate of 8.5 per cent per annum will accrue on the principle debt if the share sale agreement for Vista Companies is not signed within 30 days and if completion of shares sales is not complete by August 16.